Finnair acquires Norra on an interim basis

Wed, Oct 11, 2017 12:00 CET

Finnair Plc Investor news 11 October 2017 at 1.00 pm

Finnair acquires 60% of Nordic Regional Airlines AB (Norra) from Staffpoint Holding Oy (StaffPoint) and Kilco Oy (Kilco). Finnair currently owns 40% of the company, and following the transaction Norra will transfer full ownership to Finnair on an interim basis. The transaction has no impact on Norra’s operations or personnel.

Norra operates Finnair’s domestic and European routes as purchase traffic with a total of 24 ATR and Embraer aircraft. Following the changes in StaffPoint’s ownership base disclosed on 5 October 2017, StaffPoint and Kilco have decided to withdraw from the ownership of Norra. Finnair aims to find a new majority owner for Norra.

”Recent years have shown that the partnership model can be successful in domestic and regional purchase traffic. Our aim is to find a new, industrial partner to develop Norra’s business further with us,” says Finnair COO ­Jaakko Schildt.

The transaction requires approval by the Finnish Competition and Consumer Authority.

About Us

Finnair is specialised in flying between Europe and Asia via Helsinki. Finnair's strategy is based on the growing markets in Asia, the fastest connections between Europe and Asia, high-quality service, and cost-efficient, punctual operations. Founded in 1923, Finnair is one of the world's oldest continuously operating airlines. It is a member of oneworld, the leading airline alliance for quality-conscious business travelers.